Lake Wendouree
A median age of 53 sets Lake Wendouree apart immediately, sitting 13 years above the national figure and signalling one of Ballarat's most established owner-occupier enclaves. House prices reached $1,310,000 at Apr-Jun 2024, more than double the $634,000 recorded in 2013, yet the suburb sits 28.2% below its Jul-Sep 2023 peak of $1,825,000. University qualifications reach 47.8% of residents, 17.7 percentage points above the national average, while household incomes rank in the 73.3rd percentile nationally. The 12.1% vacancy rate is notably elevated, reflecting a predominantly detached-house stock held largely by outright owners who are slow to list.
Population
2,878
Median Age
53.0
Household IncomeiMedian weekly household income (ABS Census)
$1,953/wk
DAs (12 months)iDevelopment Applications lodged in the past year
17
Median House
$1.3M
Apr-Jun 2024
The $1,310,000 median house price reflects a significant correction from the $1,825,000 peak recorded in Jul-Sep 2023, a fall of 28.2%, creating a potential entry window for buyers. Over the long term the trajectory is strong: prices have risen 106.6% since 2013, equal to a compound annual growth rate of 5.3% across 14 years. Stock is overwhelmingly separate houses at 79.1%, with 18.8% semi-detached and only 2.1% apartments, so buyers face a genuinely detached market. The four-plus bedroom category accounts for 33.3% of dwellings, indicating a significant portion of larger family homes. Monthly mortgage repayments average $2,106, and the mortgage-to-income ratio sits at 24.9%, below the 30% stress threshold, which is consistent with the older, more financially established resident base.
For Buyers
The $1,310,000 median house price reflects a significant correction from the $1,825,000 peak recorded in Jul-Sep 2023, a fall of 28.2%, creating a potential entry window for buyers. Over the long term the trajectory is strong: prices have risen 106.6% since 2013, equal to a compound annual growth rate of 5.3% across 14 years. Stock is overwhelmingly separate houses at 79.1%, with 18.8% semi-detached and only 2.1% apartments, so buyers face a genuinely detached market. The four-plus bedroom category accounts for 33.3% of dwellings, indicating a significant portion of larger family homes. Monthly mortgage repayments average $2,106, and the mortgage-to-income ratio sits at 24.9%, below the 30% stress threshold, which is consistent with the older, more financially established resident base.
For Investors
Rental conditions in Lake Wendouree are modest by premium-suburb standards. Weekly rent of $321 against a $1,310,000 median implies a gross yield near 1.3%, low for a regional market. The 12.1% vacancy rate is elevated compared to a typical suburb, meaning landlords face meaningful competition for tenants. The renter share is only 25.6%, well below average, because 51.8% of residents own outright and 22.6% carry a mortgage, leaving a relatively small renter pool. On the positive side, the rent-to-income ratio is just 16.4%, meaning tenants are not under financial pressure, and the long-run price growth of 5.3% CAGR over 14 years supports a capital-growth-focused investment thesis rather than a yield-driven one. Development activity is modest at 16 applications in the past 12 months.
Development Activity
Total DAs
20
Last 12 Months
17
YoY ChangeiYear-over-year change in DA lodgements
—
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Lake Wendouree iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
Pleasant Street Primary School (Ballarat)
Prep-6 · 350 students
Demographics
The median age of 53 is 13 years above the national figure, placing Lake Wendouree among the more aged suburbs in regional Victoria. Couples without children make up 37.9% of families, consistent with a suburb where many households have moved past the child-rearing stage. Average household size is 2.2, which is 0.3 below the national figure. University qualifications at 47.8% run 17.7 percentage points above the national average, reflecting the suburb's professional and managerial resident base. Overseas-born residents at 13.1% sit 8.5 percentage points below the national figure, making the suburb more locally-born than most, with ancestry dominated by English (1,226), Irish (569) and Scottish (429). Volunteering is high at 26.2% of residents, above typical community engagement rates nationally.
Age Distribution
Bedrooms
Dwelling Structure
79.1%
Houses
18.8%
Townhouse
2.1%
Apartment
Tenure
Tenure is heavily skewed toward ownership: 51.8% of residents own their home outright, with only 22.6% carrying a mortgage and 25.6% renting. The proportion owning outright is substantially above national norms and points to a long-established, debt-free ownership cohort rather than a churn of recent buyers. Separate houses dominate at 79.1% of dwellings, with semi-detached at 18.8% and apartments a small 2.1%. Bedroom sizes lean larger, with 33.3% of dwellings having four or more bedrooms and 40.8% having three. The price history tells a story of strong long-run appreciation, with the median rising from $634,000 in 2013 to a peak of $1,825,000 in Jul-Sep 2023, before correcting to $1,310,000 by Apr-Jun 2024. The 12.1% vacancy rate is higher than typical, suggesting some softness in listing activity.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,106
Rent / wk
$321
HH Size
2.2
Personal Income / wk
$1,010
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
12.1%
Unoccupied
157
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
16.4%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
24.9%
Community Profile
Ancestry
Household Composition
37.9%
Couples, no children
2,055
Total families
Economy & Employment
Healthcare is the dominant industry locally, accounting for 27.3% of workers (268 residents), reflecting proximity to Ballarat Health Services and regional medical facilities. Education is the second largest sector at 14.1% (138 residents), consistent with the suburb's highly credentialled population. Professional and technical services add another 9.3% (91 residents). By occupation, Professionals lead at 460 workers, followed by Managers at 255, together comprising the majority of the employed workforce. The unemployment rate is 3.5%, below the broader regional average, and the full-time employment rate is 58.3%. Participation sits at 49.8%, below state norms, which reflects the large proportion of retired and semi-retired residents given the median age of 53. Household incomes rank in the 73.3rd percentile nationally despite the lower participation rate.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
58.3%
Part-time
38.2%
Participation
49.8%
Employed
1,191
Occupations
Top Industries
University
47.8%
Postgraduate
14.1%
Born Overseas
13.1%
Dwellings
1,145
Transport to Work
Car dependency is pronounced, with 79.7% of residents driving to work, above national averages, while only 1.2% use public transport. Walking and cycling are meaningfully elevated at 11.6%, likely driven by the lakeside setting and proximity to Ballarat's central amenities. Crime totalled 175 incidents over the measured period, a rate of 60.8 per 1,000 residents, with property and deception offences accounting for 136 of those, and crimes against the person at 22. Housing stress indicators are healthy: mortgage-to-income at 24.9% and rent-to-income at 16.4% both sit below standard stress thresholds, indicating financial comfort across ownership and renting cohorts. Volunteers make up 26.2% of residents, above typical national engagement levels. No schools are recorded within the suburb boundary in this dataset, so families rely on Ballarat institutions in adjacent areas.
Drive
79.7%
Public Transport
1.2%
Walk / Cycle
11.6%
Work from Home
N/A
Safety & Crime
Total Offences
175
Year ending June 2024
Rate per 1,000 People
60.8
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Lake Wendouree compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Lake Wendouree a good suburb to live in?
Lake Wendouree appeals strongly to owner-occupiers, with 51.8% of residents owning outright and household incomes in the 73.3rd percentile nationally. University qualifications reach 47.8%, 17.7 percentage points above the national average. The trade-offs are limited public transport (1.2%) and no schools recorded within the suburb boundary.
What is the median house price in Lake Wendouree?
The median house price was $1,310,000 in Apr-Jun 2024, down 28.2% from the Jul-Sep 2023 peak of $1,825,000. Over 14 years prices have risen 106.6% from $634,000 in 2013, a CAGR of 5.3%. Monthly mortgage repayments average $2,106.
What schools are in Lake Wendouree?
No schools are recorded within the Lake Wendouree suburb boundary in this dataset. Families rely on schools in neighbouring parts of Ballarat. Locally, 47.8% of residents hold university qualifications, 17.7 percentage points above the national figure, reflecting a highly educated resident base.
Is Lake Wendouree safe?
The recorded crime rate is 60.8 incidents per 1,000 residents, totalling 175 incidents. Property and deception offences account for the majority at 136, while crimes against the person numbered 22. Housing stress is low, with mortgage-to-income at 24.9% and rent-to-income at 16.4%, both below distress thresholds.
Is Lake Wendouree good for property investment?
The long-run case is built on capital growth: prices have risen 106.6% over 14 years at a CAGR of 5.3%. Rental yield is low, with weekly rent of $321 against a $1,310,000 median. The 12.1% vacancy rate is elevated, and the renter share is just 25.6%, so tenant demand is thinner than in higher-density suburbs.
How is Lake Wendouree's population changing?
The population is 2,878 with a median age of 53, which is 13 years above the national figure. Mobility is low, with 77.4% of residents at the same address over the prior 5 years versus 22.6% turnover. The aging profile and high outright ownership suggest a slowly renewing, established resident base rather than rapid population growth.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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